Today's story stock is Research in Motion Limited (Nasdaq:RIMM). Research in Motion reported strong 2nd quarter earnings and more importantly, raised its Q3 expectations quite significantly. In the 2nd quarter RIMM earned 50 cents per share, doubling their 25 cent profit a share from the previous year. The company grew its revenues by 108% year over year. 
Research in Motion also announced that they have passed the 10 million subscriber mark, reaching about 10.5 million by the end of the second quarter. International market subscribers now account for about 32% of their total subscription base.
For the third quarter the company forecasted that it will earn 59 to 63 cents per share. The average analyst estimate for the third quarter currently sits at 55 cents per share. The company also projected revenues well above analyst estimates for the third quarter. RIMM says it expects $1.6 to $1.67 billion in revenues, while analysts are expecting $1.51 billion.
It is important to note that Research in Motion was able to avert what is usually a slowdown in growth in subscriptions in the summer months. The company did well bringing in new subscribers and continues to project strong growth. The average selling price of its devices was $353, higher than most estimates. The company continues to do well with margins, as gross margins came in around 51%.
RIMM shares are higher by another 12% today on record volume which is already more than double a full day's normal volume at 11:30 am on the east coast. Shares have risen more than 300% in the last 12 months, so investors have certainly cheered the growth at Research in Motion.
There have been many questions in the past as to whether Research in Motion would be able to continue to grow in spite of increased competition, but the company just continues to prove the naysayers wrong quarter after quarter.
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